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In The Past Month, The Crazily Far Away Month Is Weaker &Nbsp; Zheng Cotton Enters The Interval Oscillation.

2010/7/24 15:40:00 66

In recent months, the 1009 contract has once again sounded the bugle of rising.

Today's rise of 155 yuan, once again hit a new high this year, while the main 1101 contract is also rising, but the amplitude and momentum are relatively weak.

Two contracts should be treated differently in the future market.

For the recent months, the rise

Persistence

In doubt, let's wait and see.

It should be noted that

Zhengzhou cotton

The futures contract price is rising, but the volume and position of the futures contract decrease synchronously.

Of the 1009 contracts, trading volume and positions were 51262 hand and 11746 hand respectively, which decreased by 3000 and 564 hands compared with the previous day. 1101 contracts were 120610 hand and 175812 hand in volume and position respectively, with 30 thousand hands and 17 thousand hands reduced.

As the early decline is too large, and because the recent U.S. cotton export data is still strong, recently, the United States cotton began to enter the range of shock market.

Overnight ICE12 month contract rose 1.06% compared to the previous day, closing at 74.71 cents, and may be under pressure near 75 cents later.

At present, only 270 cotton registered warehouse receipts in Zhengzhou, equivalent to 5400 tons of cotton, while the 1009 contract position remained at least 170 thousand hands, equivalent to 425 thousand tons.

cotton

The ratio is 1:78.

The low real stock ratio makes people worry about whether the bull is in a tight position or not, and the risks behind the price increase are gradually increasing.

At the end of 7 in 2009, there was a similar rise in the September contract of Zheng cotton, and fell rapidly after entering August, and the rate of decline was more than 10%.

Therefore, in the paction, investors are advised to take a distant attitude towards the 1009 contract.

For the 1101 contract, the current basic supply and demand data show that cotton output will remain at a high level in the coming year, which will reverse the embarrassing situation of continuous production reduction in the past three years. It should be dominated by short selling. The central line will be close to 16500 yuan and the stop loss will be 250 yuan.

This spring's low temperature freezing weather has affected the spring sowing work. This year, cotton may be delayed for about 10 days compared with previous years. However, since entering the growing season, the weather in most parts of the country is good, which is conducive to the growth of cotton. It is difficult to achieve stable production this year.

According to the prediction of the US Department of agriculture, China's cotton output this year is estimated to be 7 million 100 thousand tons, an increase of nearly 10% from 6 million 400 thousand tons last year.